by Mathieu Rosemain and Valentina Za
PARIS/MILAN, November 21 (Reuters) – Amundi is considering offering better terms to UniCredit to extend their distribution agreement beyond 2027, a source close to the matter said.
The French management company could in particular propose to UniCredit to receive a larger share of the fees collected on the sale of products, said this source on condition of anonymity.
Amundi did not wish to comment.
The French group signed a ten-year distribution agreement with Unicredit in 2017 upon the acquisition of the company Pioneer Investments.
Last month, Unicredit CEO Andrea Orcel said he wanted to “rebalance” the agreement with Amundi, believing that the French group “takes the lion’s share”.
(Reporting Valentina Za in Milan and Mathieu Rosemain in Paris, with the contribution of Silvia Aloisi in Paris; Blandine Hénault for the French version, edited by Kate Entringer)
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